2018-10-02 06:04:37SFTBF  - $0.00
(0.00%) , BIDU  - $227.47
-1.21 (-0.53%) 06:0410/02/18 10/0206:04 10/02/1806:04 | SoftBank seeks investment in Chinese education startup, Bloomberg reportsSoftBank's (SFTBF) Vision Fund is looking to invest roughly $500M in China's Zuoyebang as it seeks a stake in the country's online education market, Bloomberg reports, citing people familiar with the matter. The fund and the education startup, which was spun out from Baidu (BIDU) and has already raised over $500M in funding, are still finalizing terms of of the deal and details could still change. Reference Link SFTBF  - $0.00
(0.00%) BIDU  - $227.47
-1.21 (-0.53%) | |
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 - $0.00
(0.00%) - 05/31/18
05/31/18 UPGRADETarget $50
Outperform General Motors upgraded to Outperform after SoftBank investment at Evercore ISI As previously reported, Evercore ISI analyst George Galliers upgraded General Motors (GM) to Outperform from In Line after SoftBank's (SFTBF) Vision Fund agreed to invest in the company's Cruise autonomous driving unit in a deal that values the unit at $11.5B. Galliers said he had been assigning no value to the Cruise assets before the announcement. Under his new sum-of-the-parts valuation, Galliers applies a 6.0x multiple on GM's core, attributes a value of about $8 per share for the Cruise assets and about 60c per share for GM's stake in Lyft before applying a 25% discount to both of the latter. He raised his price target on GM shares to $50 from $47. - 06/06/18
- MSCO
Morgan Stanley says Softbank stake in Cruise significant 'far beyond' just GM Morgan Stanley analyst Adam Jonas said Softbank's (SFTBF) recently announced investment in GM Cruise "carries significance far beyond" General Motors (GM), arguing that the increasingly conspicuous involvement of "outside validators" such as large-cap tech firms and prominent investors can accelerate perception change in the capital markets about "Auto 2.0." He envisions the possible formation of two different companies currently held under one automaker's roof, which he dubs an Auto 2.0 "Yieldco" and an Auto 2.0 "Growthco." Converting car owners into monthly subscribers could open up significant revenue, profit, and value opportunities for traditional automakers, argues Jonas in a note to investors. Other automaking "OEMs" include Ford (F), Daimler (DDAIF), Toyota (TM), Honda (HMC), Fiat Chrysler (FCAU) and BMW Group (BAMXY). - 07/10/18
- RBCM
07/10/18 NO CHANGETarget $53 RBCM Outperform General Motors price target raised to $53 at RBC Capital RBC Capital analyst Joseph Spak kept his Outperform rating on General Motors (GM) and nudged his price target to $53 from $52, saying the recent $2.25B investment by Softbank (SFTBF) adds validation to the company's GM Cruise robo-taxi offering plans. Aside from the validation, Spak notes that the investment "provides capital to reach scale commercialization, affords GM capital allocation flexibility, and unlocks GM share price value as Cruise around $7 per share." - 09/07/18
- OPCO
09/07/18 NO CHANGETarget $275 OPCO Outperform Palo Alto Networks price target raised to $275 from $235 at Oppenheimer Oppenheimer analyst Shaul Eyal maintained an Outperform rating on Palo Alto Networks (PANW) and raised his price target to $275 from $235 following the company's "robust" Q4 results, noting that the results "beat almost every possible metric." In a research note to investors, Eyal says that the CEO transition appears to be progressing smoothly and he "appreciated" constructive conference call commentary from CEO Nikesh Arora about his strategic vision, even though he is only 90 days into the new role. Eyal contends that Palo Alto Networks remains a "builder rather than a buyer," and that Arora's former experience -- at Google (GOOGL) and SoftBank (SFTBF) -- should not be interpreted as a sign of "future splashy acquisitions."  - $227.47
-1.21 (-0.53%) - 08/01/18
- BNCH
08/01/18 NO CHANGETarget $300 BNCH Buy Benchmark turning more constructive on Baidu shift to 'AI-first' company Benchmark analyst Fawne Jiang said Baidu's upside to its Q2 results and Q3 revenue guidance were driven by solid performance from the core ad business and iQiyi. The analyst, who said she is turning more constructive on Baidu's "transformation to an AI-first company," believes it is still in the early innings of its multi-year AI growth story. Jiang reiterates her Buy rating and $300 price target on Baidu shares, which are down 5.5% to $233.54 in pre-market trading. - 08/01/18
- DBAB
08/01/18 NO CHANGETarget $337 DBAB Buy Baidu price target raised to $337 from $324 at Deutsche Bank Deutsche Bank analyst Hanjoon Kim raised his price target for Baidu to a Street-high $337 following the company's Q2 results. The analyst sees a "healthy" core business and visible path to sustained mid-term growth. He keeps a Buy rating on Baidu. - 09/06/18
- SUSQ
09/06/18 INITIATIONTarget $325 SUSQ Positive Baidu initiated with a Positive at Susquehanna Susquehanna analyst Shyam Patil initiated Baidu with a Positive and $325 price target saying its a 20%+ grower with upside to estimates and the multiple with little downside risk. Patil said the company has several initiatives underway that will drive upside over the near-to-intermediate-term with longer-term AI projects, including Apollo and DuerOS, that have significant incremental opportunities, representing call options - 09/07/18
Fly Intel: Today's top analyst calls on Wall Street Check out today's top analyst calls from around Wall Street, compiled by The Fly. BOFA DOUBLE UPGRADES AK STEEL: BofA Merrill Lynch analyst Timna Tanners double upgraded AK Steel (AKS) to Buy from Underperform and raised its price target to $6 from $5. Tanners is now modeling 2019 spot benchmark hot rolled coil at $750/short ton versus $700 previously and expects 85% of AK Steel's sheet business that is on fixed-price contracts will have a substantial increase in 2019. In mid-morning trading, AK Steel is up 2%. MACQUARIE CUTS WELLS FARGO TO NEUTRAL: Macquarie analyst David Konrad downgraded Wells Fargo (WFC) to Neutral from Buy with a $63 price target based on valuation and near-term estimates falling below expectations. Konrad said valuation has moved in-line relative to peers following favorable expense guidance and the strong CCAR results, and believes it will take a few more quarters before leverage drives higher earnings. SUSQUEHANNA INITIATES BAIDU, JD.COM: Susquehanna analyst Shyam Patil initiated Baidu (BIDU) with a Positive rating and $325 price target, saying its a 20%+ grower with upside to estimates and the multiple with little downside risk. Patil said the company has several initiatives underway that will drive upside over the near-to-intermediate-term with longer-term AI projects that represent call options. Patil also initiated JD.com (JD) with a Neutral rating and $30 price target, saying he is concerned Alibaba (BABA) will continue to be an e-commerce category killer in China and will remain aggressive in its efforts to take share from JD. GOLDMAN RAISES APPLE TARGET TO $240: Goldman Sachs analyst Rod Hall outlined his expectations for Apple's (AAPL) new product event on September 12, stating that he expects three new iPhones at better price points. He also expects Apple to announce two new AppleCare+ Plans associated with the iPhone 9 and the Xs+ and raised his Services forecast to account for an overall mix of AppleCare+ skewed towards higher priced plans. Hall raised his price target on Apple shares to $240, but maintained a Neutral rating on the stock. BOFA DEFENDS MICRON: BofA Merrill Lynch analyst Simon Woo kept his Buy rating and $100 price target on Micron (MU), saying the fundamentals of the company's earnings remain solid, and the recent correction in the stock price is likely "sentiment related". The analyst notes that the company is still headed for "record-high revenue/profit," and the stalled rise in memory chip prices does not signal a market downturn. |